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Certainly, receiving a notice of foreclosure devastates homeowners.
To prevent loss of home, the Georgia Homestead Exemption Act
allows debtors to defeat all creditor claims unless specifically
excepted by statute. In general, only purchase money security interests,
mechanics liens, and taxes may be collected by seizing a homestead.
Additionally, if filing Chapter 13, Georgia homestead exemption law
covers primary residences and allows past due mortgages, back taxes
(including the IRS), and debts secured by mechanics' liens to be
included within the plan of repayment. Simply filing a Georgia homestead exemption form
is not enough. Filing Chapter 13 creates a legal presumption that all
debts included within the plan are presumed current, and in effect,
prevents foreclosure.
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